-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GOk5cN4pdsS12Ay491rIgzuaX3Eabj2E3wbfFxBAIFfub4f3/3+fIEkkCasdq14O O+rIgt6MojySVnpHWOdfPQ== 0000063276-96-000032.txt : 19960719 0000063276-96-000032.hdr.sgml : 19960719 ACCESSION NUMBER: 0000063276-96-000032 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960718 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960718 SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MATTEL INC /DE/ CENTRAL INDEX KEY: 0000063276 STANDARD INDUSTRIAL CLASSIFICATION: DOLLS & STUFFED TOYS [3942] IRS NUMBER: 951567322 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05647 FILM NUMBER: 96596221 BUSINESS ADDRESS: STREET 1: 333 CONTINENTAL BLVD CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3102522000 8-K 1 SECOND QUARTER 1996 EARNINGS RELEASE SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report: July 18, 1996 MATTEL, INC. ------------ (Exact name of registrant as specified in its charter) Delaware 001-05647 95-1567322 - ------------------------------------------------------------------------------ (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File No.) Identification No.) 333 Continental Boulevard, El Segundo, California 90245-5012 - ------------------------------------------------------------------------------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (310) 252-2000 ---------------------------- N/A - ------------------------------------------------------------------------------ (Former name or former address, if changed since last report) Item 5. Other Events - ------- ------------ Mattel, Inc. hereby incorporates by reference herein its press release dated July 18, 1996, regarding its 1996 second quarter results of operations, a copy of which is included as Exhibit 99.0 attached hereto. Item 7. Financial Statements and Exhibits - ------- --------------------------------- (a) Financial statements of businesses acquired: None (b) Pro forma financial information: None (c) Exhibits: 99.0 Press release dated July 18, 1996. SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MATTEL, INC. Registrant By: /s/ Leland P. Smith ------------------------- Leland P. Smith Assistant General Counsel Date: July 18, 1996 and Assistant Secretary ------------------- EX-99.0 2 PRESS RELEASE DATED JULY 18, 1996 FOR IMMEDIATE RELEASE CONTACT: Glenn Bozarth July 18, 1996 Mattel, Inc. (310) 252-3521 MATTEL ANNOUNCES 1996 SECOND QUARTER RESULTS CHAIRMAN SAYS FULL-YEAR EXPECTATIONS ARE UNCHANGED, ANNOUNCES PLANS FOR ACCELERATED SHARE REPURCHASE ------------------------------------------------ LOS ANGELES, July 18 -- Mattel, Inc. today reported second quarter net income of $66.3 million or $.24 per share, versus $67.5 million or $.24 per share in 1995. Net sales were $777 million, compared with $763 million in the same quarter last year. The company had earlier this month announced that it expected sales volume and earnings for the quarter to be approximately the same as last year, but that these results will have no impact on the company's expectations for the year. For the first half of 1996, net income was $96.2 million or $.34 per share, versus $94.5 million or $.33 per share in the first six months of 1995. Year-to-date net sales were $1.363 billion, compared with $1.307 billion in 1995. John W. Amerman, Mattel's chairman and chief executive officer, said that the difficult retail environment in Europe and the negative impact of foreign exchange affected the company's performance in the 1996 quarter. He said, however, that strong retail demand for Mattel products will help make 1996 the company's eighth consecutive year of record results. "Our business is being driven by excellent worldwide momentum for Barbie and Hot Wheels," Amerman said. "Our Cabbage Patch Kids are well on their way to becoming a $100 million business during their second year at Mattel. In addition, Wonder Tools by Fisher-Price, our Mattel Media interactive CD-ROM products, Construx and toys tied to Disney's The Mighty Ducks and 101 Dalmatians will be shipping in the coming months, further assuring strong performance in the second half." Amerman also said that, in light of current stock market conditions and Mattel's outlook for the second half of the year, the company plans to accelerate activity under its stock repurchase plan, and purchase the balance of its 8.75 million-share annual authorization during the 1996 third quarter. "We are on track to achieve our goals for the full year, and we see this as an attractive time to buy back shares," he said. Mattel is the worldwide leader in the design, manufacture and marketing of children's toys. Headquartered in El Segundo, California, Mattel has offices and facilities in 36 countries and sells its products in more than 140 nations throughout the world. -###- MATTEL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME
FOR THE FOR THE THREE MONTHS ENDED SIX MONTHS ENDED ------------------------- ------------------------- June 30, June 30, June 30, June 30, (In thousands, except per share amounts) 1996 1995 1996 1995 - ---------------------------------------- ---------- ---------- ---------- ---------- Net Sales $ 777,355 $ 763,474 $1,363,234 $1,307,044 Cost of sales 398,801 396,785 698,903 681,330 ---------- ---------- ---------- ---------- Gross Profit 378,554 366,689 664,331 625,714 Advertising and promotion expenses 102,367 106,718 182,656 185,318 Other selling and administrative expenses 154,623 141,498 297,543 273,416 Other expense (income), net 7,293 (730) 10,958 (4,144) ---------- ---------- ---------- ---------- Operating Profit 114,271 119,203 173,174 171,124 Interest expense 16,278 17,993 30,696 29,070 ---------- ---------- ---------- ---------- Income Before Income Taxes 97,993 101,210 142,478 142,054 Provision for income taxes 31,700 33,714 46,300 47,600 ---------- ---------- ---------- ---------- Net Income $ 66,293 $ 67,496 $ 96,178 $ 94,454 ========== ========== ========== ========== Net Income Per Share (a) $ 0.24 $ 0.24 $ 0.34 $ 0.33 ========== ========== ========== ========== Average Number of Common and Common Equivalent Shares Outstanding 280,894 280,691 281,323 280,275 ========== ========== ========== ==========
MATTEL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS
June 30, June 30, Dec. 31, (In thousands) 1996 1995 1995 - -------------- ----------- ----------- ----------- ASSETS Cash and marketable securities $ 44,727 $ 87,706 $ 483,457 Accounts receivable, net 962,690 920,522 679,283 Inventories 490,590 453,902 350,841 Prepaid expenses and other current assets 193,632 201,931 177,238 ----------- ----------- ----------- Total current assets 1,691,639 1,664,061 1,690,819 Property, plant and equipment, net 544,568 463,735 499,314 Other assets 491,919 505,062 505,376 ----------- ----------- ----------- Total Assets $ 2,728,126 $ 2,632,858 $ 2,695,509 =========== =========== =========== LIABILITIES AND SHAREHOLDERS' EQUITY Notes payable, net $ 243,546 $ 196,992 $ 15,520 Current portion of long-term liabilities 1,623 2,612 33,215 Accounts payable and accrued liabilities 441,327 508,565 660,763 Income taxes payable 133,618 166,708 138,183 ----------- ----------- ----------- Total current liabilities 820,114 874,877 847,681 Long-term debt 260,682 263,530 260,868 Medium-Term notes 220,000 250,000 220,000 Other long-term liabilities 100,852 85,221 91,791 Shareholders' equity 1,326,478 1,159,230 1,275,169 ----------- ----------- ----------- Total Liabilities and Shareholders' Equity $ 2,728,126 $ 2,632,858 $ 2,695,509 =========== =========== =========== (a) Share and per share data for the quarter and six months ended June 30, 1995 reflect the retroactive effect of a 5/4 stock split declared in February 1996.
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